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Exam 11: Auto and Homeowners Insurance

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Question 51

Multiple Choice

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Comprehensive coverage would cover financial losses due to

A) injuries caused by a driver without insurance.
B) damage to your car in an accident for which you were at fault.
C) damage to your car caused by wind or hail.
D) damage to a neighbor's tree caused by your car.

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Question 52

Multiple Choice

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The liability component of your homeowner's policy will cover all of the following situations, except one. Which situation will not be covered?

A) Your dog bites a guest and the guest sues you.
B) While your accountant is visiting you, she trips on your carpet and sues you.
C) Your neighbor who thinks you have promised to trim a tree in his yard sues you for not doing it.
D) An uninvited salesman walking up your sidewalk trips and falls. He sues you.

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Question 53

Multiple Choice

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Of the following statements, which is not true regarding no-fault insurance?

It is a good idea to list all of your personal assets, estimate the market value of each item, and then film the contents of your house with a video camera to be able to show proof of their existence.

If you have a poor driving record, you may be forced to do all of the following, except

Once drivers are labeled as "high risk," they will not be able to get automobile insurance at any price.

What three insurance components do automobile and homeowner's policies usually have in common?

Renter's insurance covers your possessions and the structure of the house or condo you are renting.

Having a large deductible on your auto or homeowner's insurance is a form of

The ________ is the amount that you will need to pay if your car is damaged in an accident that was your fault.

Use the following two columns of items to answer the matching questions below: -comprehensive coverage A)pays for injuries to you or people in your car in an accident where you (the driver) are at fault B)requires individuals who drive cars to purchase a minimum amount of liability insurance C)a set dollar amount that you are responsible for paying before any coverage is provided by your insurer D)covers damage to your car when you are at fault in an accident E)vehicle insurance to cover various injuries, your property, and the property of others F)covers damage to your car as a result of theft, fire, vandalism, or various other events

Use the following two columns of items to answer the matching questions below: -financial responsibility laws A)pays for injuries to you or people in your car in an accident where you (the driver) are at fault B)requires individuals who drive cars to purchase a minimum amount of liability insurance C)a set dollar amount that you are responsible for paying before any coverage is provided by your insurer D)covers damage to your car when you are at fault in an accident E)vehicle insurance to cover various injuries, your property, and the property of others F)covers damage to your car as a result of theft, fire, vandalism, or various other events

Which of the following is not a characteristic of an umbrella policy?

Use the following two columns of items to answer the matching questions below: -medical payments coverage A)pays for injuries to you or people in your car in an accident where you (the driver) are at fault B)requires individuals who drive cars to purchase a minimum amount of liability insurance C)a set dollar amount that you are responsible for paying before any coverage is provided by your insurer D)covers damage to your car when you are at fault in an accident E)vehicle insurance to cover various injuries, your property, and the property of others F)covers damage to your car as a result of theft, fire, vandalism, or various other events

Liability insurance coverage would cost more for an expensive car than for an inexpensive car of the same age.

People are more willing to purchase or increase their insurance coverage when

Which of the following is not true regarding medical payments coverage?

Given the large number of uninsured drivers, uninsured motorist coverage is needed.

Which of the following is not covered in a standard homeowner's policy?

In general, insurance companies generate their revenues from